§ 7740. Termination of trusts; proceedings for termination or modification of trusts - UTC 410.
203 words·~1 min read·
/pa/title-20/chapter-77/7740A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§ 7740. Termination of trusts; proceedings for termination or modification of trusts - UTC 410.
(a)Termination.-- A trust terminates to the extent it is revoked or expires pursuant to its terms, no purpose of the trust remains to be achieved or the purposes of the trust have become unlawful or contrary to public policy. In addition, a trust may be terminated by the methods prescribed by sections 7740.1 (relating to modification or termination of noncharitable irrevocable trust by consent - UTC 411) through 7740.4 (relating to modification or termination of noncharitable trust - UTC 414).
(b)Proceedings for termination or modification.-- The settlor, the trustee or a beneficiary may commence a proceeding to approve or disapprove a proposed modification or termination under sections 7740.1 through 7740.6 (relating to modification to achieve settlor's tax objectives - UTC 416), the division of a trust under section 7740.7 (relating to division of trusts) or the combination of trusts under section 7740.8 (relating to combination of trusts). The settlor of a charitable trust may commence a proceeding to modify the trust under section 7740.3 (relating to charitable trusts - UTC 413).
20c7740v
Cross References. Section 7740 is referred to in section 7705 of this title.
20c7740.1s